Sequoia Co-Leads $1B Round In News App Toutiao, Minting China’s Biggest Media Company

Sequoia Capital and CCB International, an investment unit of China Construction Bank Co., have led a series D investment of around US$1 billion in Chinese personalized news recommendation app operator Toutiao. While exact figures are not yet available, the deal would make Toutiao China’s biggest media company in terms of valuation.

Baidu, Ant Financial And Toutiao Summoned By Chinese Government Over User Privacy Issues

Chinese tech giant Baidu Inc., Alibaba’s financial affiliate Ant Financial and Beijing Bytedance Telecommunications Co., Ltd., the operator of Chinese personalized news app Toutiao, have been summoned to answer question by China’s Ministry of Industry and Information Technology as they have failed to fully disclose the collection of personal data from users of their mobile apps, according to the government’s website. 

China’s Bytedance And BuzzFeed Announce Content Licensing Agreement

Beijing Bytedance Telecommunications Co., Ltd., the operator of Chinese personalized news app Toutiao, has announced a content partnership with U.S. social news and entertainment company BuzzFeed. Under the agreement, BuzzFeed’s content will become available to users of Bytedance’s various platforms including Toutiao, TopBuzz, and Xigua Video in China, Japan and other parts of the world.

Toutiao Sues Baidu For Unfair Competition Over Negative Search Results

Beijing Bytedance Telecommunications Co., Ltd., the operator of personalized news app Toutiao, has sued China’s largest search engine Baidu Inc. for unfair competition, claiming Baidu deliberately places negative news about Toutiao in top search results, according to a Toutiao WeChat post Monday night.